1962 Cost of Living

GoldmattersGoldmatters Posts: 3,814 Admin
edited April 30 in About Gold






Sourced from: @GoldTelegraph_


This is an interesting reminder of how inflation destroys our purchasing power over time.

Comments

  • RocketDogRocketDog Posts: 651 Silver ✭✭✭✭
    No doubt. We need to keep that in mind when we look at our salaries/wages. It is amazing how many people are moving backward since the 1980s, (and 1962). I think most of us have only 1/2 the purchasing power now that we did then, and we work twice as hard. I am grateful to be out of debt and do better than a lot of my friends, but I am getting to the point where, with more than half of my income going to taxes, being skewered by health care costs (and I'm healthy), I think I should just stop working, stop paying taxes (stop supporting illegal immigrants) and just grow a really big garden until gold and silver prices reset. Why wait until the crash? Stop early and smell the roses for a while before the chaos.

    What do you guys think?
  • GoldmattersGoldmatters Posts: 3,814 Admin
    @RocketDog better to be 5 years early than 5 minutes late :)
  • tomartotomarto Posts: 112 Copper ✭✭
    $20.00 in 1971 has the same buying power as $123.88 in 2018... in other words, inflation has destroyed savings. :o
  • ike11ikeike11ike Posts: 161 Bronze ✭✭✭
    RocketDog said:

    No doubt. We need to keep that in mind when we look at our salaries/wages. It is amazing how many people are moving backward since the 1980s, (and 1962). I think most of us have only 1/2 the purchasing power now that we did then, and we work twice as hard. I am grateful to be out of debt and do better than a lot of my friends, but I am getting to the point where, with more than half of my income going to taxes, being skewered by health care costs (and I'm healthy), I think I should just stop working, stop paying taxes (stop supporting illegal immigrants) and just grow a really big garden until gold and silver prices reset. Why wait until the crash? Stop early and smell the roses for a while before the chaos.

    What do you guys think?

    I'm pretty much doing this...put in notice at my software job last Monday and I start working for a farmer on Monday to learn some real valuable skills.
  • ike11ikeike11ike Posts: 161 Bronze ✭✭✭
    tomarto said:

    $20.00 in 1971 has the same buying power as $123.88 in 2018... in other words, inflation has destroyed savings. :o

    And that is quite understated imo...I think it's closer to $20 then = $700-800 now
  • RocketDogRocketDog Posts: 651 Silver ✭✭✭✭
    @ike11ike that is so cool! I have been volunteering for a local organic farmer for the past couple of years, so that I can learn and develop a good relationship. I buy my food from his CSA. I work at the local Farmer's Market selling vegetables for him every other Saturday in the summer. It's fun and I meet nice people. Quite different from my IT job. I am so close to quitting my job. Just have to wrap up a few loose ends and gather the courage. What will I do with an extra 40 hours a week? How many thoughts can we think when not renting our brain power to others? That is so enticing.

    Congratulations on taking this big step toward improving your future, hopefully finding greater meaning and a better sense of security in the process. I hope I can say the same very soon.
  • RocketDogRocketDog Posts: 651 Silver ✭✭✭✭
    @ike11ike I did it too! I got the courage and gave notice. (Kind of long notice because I didn't want to be mean to my boss) but I'll be a free agent by mid-July. It seems to be the right time to stop earning the US dollar, enjoy some alternative activities and finish some contingency planning, such as selling stocks and stuffing the proceeds into my newly validated Goldmoney full holding. I will also be using up the last of my GI Bill which will expire in early 2020. I am sure the US taxpayers won't mind me spending some of their highly inflated dollars on an advanced degree, after all, thanks to their political complacency, I am a deranged combat veteran. If I'm wrong about the end of the economy, then I'll have new job opportunities in 18 months. Win, win, win, win, win, win...
  • ike11ikeike11ike Posts: 161 Bronze ✭✭✭
    @RocketDog Congratulations amigo! What's the update now that we're into late July? I'm taking 7 Sustainable Agriculture continuing education classes this fall at Austin Community College (just finished the Intro to Sustainable Agriculture Class a couple weeks ago). The total for the 7 classes is only like $2,300 (WOW! affordable education). In January, I'll be starting a sales job with the US Gold Bureau (at least I'll be helping people protect themselves) until the fiance and I move back home to Montana and acquire our 20 acres and start our small scale fruit/vegetable farm near family.

    If interested, here are the classes:
    http://continue.austincc.edu/agriculture

    Especially looking forward to the hands on field work in these 2 classes:

    HALT-1005 Introduction to Soil

    HALT-2021 Small Scale Farming
  • RocketDogRocketDog Posts: 651 Silver ✭✭✭✭
    Hey @ike11ike that looks like good training you are receiving. It sounds like you have a good plan. I used the first half of my GI Bill getting trade skills at a Community College in Colorado. I took plumbing/pipefitting, residential wiring, commercial wiring, carpentry, roofing, solar PV installation, solar thermal installation, Home Energy Efficiency testing, etc. All for the purpose of having usable skills. I was also building my own aquaponics systems and experimenting with greenhouse building at that time.

    I then moved to a small town in Ohio, where it is much more affordable to live, and quality of life is higher -- though my standard of living is a little lower (living beneath my means, you know...no debt). I had really debated between Ohio and the four corners area of Colorado -- where I really wanted to build an Earthship and do some desert farming. But ultimately, I felt like I would rather live in a small town setting and have a social life and still have some modern world opportunities. Even though I love the desert/canyon lands and don't mind being alone, the thought of hiding out in the desert, waiting for doomsday is depressing. So I adopted a plan that me and a few friends call, "Shelter in Place". Which means live in town and look like a townie, but still build redundant, back-up systems, have a natural food supply, and be a reasonable urban prepper. So I am starting to build some geodome greenhouses which will have year round garden beds and maybe some aquaponics. I am putting in solar PV panels, etc. I have joined the local gun club and am learning which of my neighbors can be a strategic ally. I think this is a good compromise. I can prepare for the worst and still enjoy the best that the present has to offer.

    I don't miss the job at all. I hope to attend a local college in the fall and earn a Master's in Clinical Counseling with which I can use as a western credential to support my interest in being a Shamanic Practitioner and Primal Health Coach. If I don't get into the Psych program, I will hit the other local college and get an MBA--just cause, in case the economy doesn't crash, I might need another job someday. So that is my wacky plan.

    I like your plan of moving to Montana, farming and being with family--with your fiance, so probably starting a family of your own. If I were younger I would probably do something similar. I hope parts of Montana remain unafflicted. Colorado is almost a completely lost cause due to the inland migration of the Coasties. I no longer recognize Colorado as the place I grew up. It is crowded and the people aren't very nice anymore. I recently heard a podcast about a guy that is trying to get a bunch of prepper/self-sufficient people to migrate to a five state area (Montana, Idaho, Wyoming, eastern Washington, eastern Oregon). That would be nice if it could develop that way.
  • ike11ikeike11ike Posts: 161 Bronze ✭✭✭
    @RocketDog thanks for sharing in such a detailed manner. It is very important to spend your time with and live near like-minded individuals.

    LOL (live on less) is a great way of life and staying out of debt is paramount. Since you're in Ohio, you should look up Chris Duane, he's an awesome guy and was the first influence that led me down this path. His youtube channel is TruthNeverTold.
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